SRS Distribution announces the upcoming acquisition of Gary-Hobart Roofing & Supply with two locations in Hobart & Valparaiso, Indiana.
SRS Distribution announces the upcoming acquisition of Gary-Hobart Roofing & Supply with two locations in Hobart & Valparaiso, Indiana.
McKinney, TX, December 11, 2012: SRS Distribution (“SRS” or “the Company”) announced today that it has signed a letter of intent and is performing the final stages of due diligence to acquire Gary-Hobart Roofing
and Supply, the market leader in Northwest Indiana. The transaction is structured as an asset purchase and is scheduled to close Monday, December 31, 2012. Gary-Hobart is a privately-owned, one-step distributor of
roofing, siding and windows that services the Northwest Indiana, South Chicago, and Southwest Michigan areas. It was founded in 1949 and currently employs 28 people.
Jack Ronneau, President, and Rod Ruess, Vice President of Gary-Hobart are both staying with the company along with their entire team to help expand the operations going forward. Gary-Hobart will keep their
operating name to ensure continuity for customers. Rod Ruess, who will become a minority stockholder in SRS, will assume the role of district manager for Indiana and will report directly to Tim Hanks, SRS’ Senior Vice
President of Operations for the East Region.
Ron Ross, Chief Executive Officer of SRS Acquisition Corporation, commented, "We are excited to have the extremely dedicated and talented employees of Gary-Hobart join the SRS family of companies. Gary-Hobart
is a company we have admired from a distance for many years and we look forward to expanding on their long track record of success in the coming years. It also marks the entrance into our 28th state in under five
years since we founded the company, which all of our employees are very proud of.”
Headquartered in McKinney, TX, SRS Acquisition is a building products distribution holding company that with the addition of these new locations will operate 84 locations in 28 states under 19 different brands: Suncoast
Roofers Supply (FL), Southern Shingles (TX/OK/LA/MO/AR), SRS Roofing Supply (AL), Rowe Supply (GA/SC), Atlanta Roofing Supply (GA), Cannon Supply (SC), Columbia Wholesale (SC), Midwest Roofing Supply (IL/MN),
Gary-Hobart Roofing Supply (IN), River City Wholesale (KY), Superior Distribution (TN/MD/VA/NC), Shake & Shingle Supply (CO/KS/MO/NE/IL), Stewart Building & Roofing Supply (AZ), Roofline Supply (OR/CA), Stoneway
Roofing Supply (WA), Pace Supply (PA/CT), Burbank Roofing Supply Group (CA), ABCO Supply (MI), and Sierra Roofing Supply (NV). SRS is a portfolio company of AEA Investors.
Framauro Perez
